Law for the Common Man

02/05/2022

"अगर सब कुछ मिल जाएगा ज़िन्दगी में, तो तमन्ना किसकी करोगे ।

कुछ अधूरी ख़्वाहिशें तो जीने का मज़ा देती हैं ।।"

01/04/2022

Legalized Loot?

1. Ruchi Soya, a listed company goes into insolvency. They owed Rs. 12000 crores to PSU banks. Banks wrote off more than 50% and liability was reduced to less than 50%.

2. Having reduced the liabilities to less than half, NCLT puts it up for sale. Only two bidders remained - Patanjali and Adani Wilmar. Adani's having bid initially, withdraw, leaving only Patanjali in the race.

3. The bid of Patanjali was Rs. 4350 crores of which 3250 crores would be funded by banks. The security for the loan was the same Ruchi Soya stock which was written down to Zero in the Debt restructuring plan agreed by the banks.

4. Now we have a situation where the banks that wrote off massive amounts are now funding another loan to Patanjali to acquire the same company where they wrote off debts.

5. It doesn't stop here. SEBI mandates a 25% public shareholding to be listed on the stock exchanges to ensure liquidity and avoid price manipulation. NCLT played along and ordered listing even though public shareholding was just 1%. SEBI did not challenge the order.

6. Price manipulation begins. There were no sellers in the market. Even the 1% was closely held. The stock zoomed from Rs.3.50 to Rs. 1053 in two years. Now, Ruchi Soya, a company that Patanjali acquired in Dec 2019 with just 1000 crore of own money is valued at Rs.31,000 Crores.

7. Ruchi Soya, now owned 99.5% by Patanjali, is now coming with a public issue diluting just 20% and raising 4300 crores. Remember, they bought 100% of the company at 4350 crores. They will also repay all the debt with investor money.

8. The bankers wrote off a few thousand crores. The bankers again funded the acquisition of the same company with securities of the same shares by Baba Ramdev. The small investors will again buy equity worth 4300 crores.

9. Baba Ramdev will own 80% of a 31000-crore company with no investment.

This is taxpayers' money being looted in a legalized way

22/02/2022

Came across this anecdote in हिंदी, wherein a drunkard was defending drinking habit and the so called "efficacy" of alcohol with a cleric (maulvi), which is as follows:

मौलवी साब बोले: "शराब बुरी चीज़ है, इसे छोड़ क्यों नही देते ??"

फिर जनता में से एक शराबी व्यक्ति उठा और मौलवी साब से बोला :

"है अगर तेरी आज़ान में इतनी ताक़त, तो इस मस्जिद को हिला के दिखा ।। अगर नही है तो आ मेरे साथ बैठ के पी और इस मस्जिद को हिलता हुआ देख।।"

Disclaimer: This post is just meant in a lighter note and is not meant to promote the consumption of alcohol in any manner or to hurt the sentiments of any caste, community, sect or religion or any person living or non living. Yet if anybody feels offended, kindly dm for removal within the limits of reasonable restriction !!

21/02/2022

This post is shout out to everyone who is hustling and trying to make it.
Whenever you feel like quitting, try one more time. Maybe you could be just one step away from that goal of yours. Maybe the end result could be way better or bigger than your vision.

When you feel like it's not working out and you want to quit, just remember these 3 things:

👉Why I started ?

👉What is my goal that I actually want to achieve?

👉Have I really given my 100% effort ??

14/02/2022

This article is written by Vritant Dua, pursuing Diploma in Intellectual Property, Media and Entertainment Laws from LawSikho. The article has been edited by Prashant Baviskar(Associate, LawSikho) and Smriti Katiyar (Associate, LawSikho). Table of Contents Brief history and introductionParties invol...

09/02/2022

Just saw some of the episodes of Shark Tank India. Ashneer Grover who is one of the sharks on board, is famous for his dialog "ye sab doglapan hai". But the facts and reality paint an entirely different picture.

Ashneer owns bloody 9.5% shares only of bharat pe. And he is demanding 4000 cr for exiting the company. He claims to be the co founder of bharat pe. But the fact is he had no role in creating or designing the app. Infact it was a person named Shashvat Nakrani , who designed the app. Ashneer just invested some money and came on board as a co founder.

In January 2022, there was a sudden announcement of Grover taking a voluntary leave from office until March amid his controversial behaviour in his interaction with a Kotak employee and also on the reality TV show Shark Tank. Subsequently the Bharat Pe board also called for an independent audit of the company's processes including the tenure of Grover and his wife Madhuri in the management. Following this management consultant and risk advisory firm Alvarez and Marsal indicated financial irregularities like payments of 53.25 crores to non existent entities incurring a loss of 10.97 crores, amongst others. For further details click on the link given in comment section.

And he says "ye sab doglapan hai" !!

Disclaimer:- All the facts presented above are a part of public domain and are not meant to defame or degrade any person, living or non living. I neither claim to be an expert nor the author of the above facts. Use your discretion wherever necessary !!

20/01/2022

My article titled "Intellectual Property Appellate Board & it's sad demise" is now live !!

THE INTELLECTUAL PROPERTY APPELLATE BOARD AND ITS SAD DEMISE !! ...

09/07/2021

"दरिया अब तेरी खैर नहीं बूंदों ने बगावत कर ली है, नादान न समझ ऐ बुजदिल इनको, लहरों ने बगावत कर ली है, हम परवाने हैं मौत समां, मरने का किसको खौफ यहाँ, रे तलवार तुझे झुकना होगा गर्दन ने बगावत कर ली है”

25/10/2020

25/10/2020

One of the biggest learnings from is the killing of one's ego - despite 's innate knowledge and devotion to Shiva, his ego and pride caused his downfall. This Dussehra, kill your own personal demon first - it could be ego, anger, hatred, jealousy or even self-hate! Go ahead and celebrate the within you!

Regards
Adv Vritant Dua & family

26/03/2020

Let’s see the law involved in declaring the lockdown.
The Epidemic Diseases Act, 1897 is a colonial-era law which the govt has invoked to fight against the corona virus outbreak. It was enacted on Feb. 4, 1897, to stop the spread of the bubonic plague outbreak in Bombay(now Mumbai). It gave the British govt in India powers to restrict people from gathering in large numbers.
The law was last used in 2018 to prevent the spread of cholera in a village in Gujarat. It has also been invoked in 2015 in cases of dengue and malaria in Punjab and H1N1 influenza in Pune in 2009.
Incidentally, the law was enacted by the British govt to imprison freedom fighters to curtail their anti-British activities. Freedom fighter Bal Gangadhar Tilak was imprisoned under the said law in 1897 for the coverage of the plague in his newspaper Kesari, painting a negative picture of the British administration.
The act contains only 5 sections in total. The Act, however, is silent on the definition of “epidemic disease”. Neither it contains any specific provision for issuing lockdown and other guidelines.
The State Govt is empowered vide Section 2 of the act to issue guidelines and prescribe regulations to prevent the outbreak of any epidemic disease. The Central govt is empowered to do the same under Section 2A. And as per Section 4, no suit or legal proceedings lie against any order promulgated by a public servant in good faith. As per Section 3, any person found disobeying any order/regulation issued under this Act shall be punishable under Section 188 IPC.

18/12/2019

Domino's Pizza has been asked to pay a fine of Rs 10 lakh for charging a fee from consumers for carry bags.